Makroökonomik

In this book, Lutz Arnold provides an introduction to the central macroeconomic phenomena: growth, unemployment, inflation, business cycles, financial market imperfections, and financial crises. The author starts by explaining trend GDP from the supply side and then turns to business fluctuations taking the demand perspective. The book contains a comprehensive treatment of financial markets, including topics such as credit rationing, bank runs, currency crises, banking crises, sovereign debt crises, the efficient markets hypothesis, and speculative bubbles.